- Detached light industrial property
- Extending to approximately 5,767 sqm (62,072 sqft)
- Rental Income of €454,400 per annum
- Main tenant Essentra Packaging Ireland Limited
- Parent company guarantee with Dun & Bradstreet Rating of 5A1
- 25 year lease expiring September 2027
- Tenant break option September 2020
- Upward only rent review
- Site area 1.55 ha (3.83 acres)
The property comprises a detached single storey industrial building on a generous site which extends to 1.55 hectares (3.83 acres) including a rear yard of 0.36 hectares (0.89 acres). The unit is of steel portal frame in two bays with concrete block infill walls to an eaves height of approximately 3.9 metres, with a double skin concrete roof incorporating translucent roof lighting and a concrete dustproof floor throughout. Artificial lighting throughout the production area is by means of hanging fluorescent lights. The production area also has the benefit of blow air heaters and air-extraction units. Goods access is provided by means of three electrically operated roller shutter doors. An internal single storey office section to the front is separated from the production area by means of a concrete block wall. The accommodation provided for here includes reception, some open plan offices, meeting rooms and male & female toilet facilities. Meeting rooms are divided by a number of solid block walls. Finishes to this section include solid floors with carpet and tile covering, plastered and painted walls, suspended acoustic tiled ceilings with inset fluorescent box lighting and spot lights. Canteen facilities and additional toilet facilities are provided within the warehouse section separated from the production area by concrete block walls.
TenacyThe building and majority of the site is let Essentra Packaging Ireland Limited. Essentra is an international company supplying customers in over 100 countries. 129 Slaney Road is occupied by the Health & Personal Care Packaging division to Essentra also has operations in Airways Industrial Estate in Dublin and Ovens in Cork. The lease is guaranteed by Essentra International Packaging Limited its UK parent which has a Dun & Bradstreet Rating of 5A1. In the year to December 2016 it reported profits of £423m after tax and had total assets of £457m. Details of the tenancy are outlined below:
|Term Commencement||1st October 2002|
|Term Expiry||30th September 2027|
|Break Option Expiry||30th September 2020 subject to 6 months prior notice|
|Rent per annum||€430,400|
|Rent Review||The rent reverts to the reserved rent of €538,000 per annum from 1st October subject to upward only rent review on 1st October 2022|
Rear YardThe rear yard is licenced to a separate occupier and accessed separately. This is fenced off from the remainder of the property and extends to 0.36 hectares. The rear yard is used under an annual Licence by Lannigan International Freight Limited at a fee of €28,000 per annum. The owner pays a fee to the adjoining owner of €4,000 to enable separate access to the yard. Net income of €24,000 from the rear yard.
Under the Dublin City council Development Plan 2016 – 2022 the property is in an area zoned Objective Z6 “To provide the creation and protection of enterprise and facilitate opportunities for employment creation.
By special appointment with the sole letting agent, Lisney.
BER No. 800597569
Address: St Stephen's Green House, Earlsfort Terrace, Dublin 2
Telephone: +353-1-638 2700 or you can also email us at email@example.com
Lisney for themselves and the Vendor/Lessor whose Agents they are give notice that:
1. These particulars do not constitute any part of an offer or contract.
2. All statements contained in these particulars as to this property are made without responsibility on the part of the Agents or the Vendor/Lessor and none of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact.
3. The particulars, various plans, photographs, dimensions, references to condition and permissions for use and occupation are given in good faith and are believed to be correct but their accuracy is not guaranteed and any intending Purchasers or Tenants shall satisfy themselves by inspection or otherwise as to correctness of each of them. No omission, accidental error or misdescription shall be ground for a claim for compensation or for the rescission of the contract by either the Vendor/Lessor or the Purchaser/Tenant.
4. Neither the Vendor/Lessor nor Lisney nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to the property. 5. Prices are quoted exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the Purchaser/Tenant shall be liable for any VAT arising on the transaction. PSRA No. 001848.
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.